PCo issued shares of their common stock for interest in S. Question: 25,000 10 Shares issued Par Value per Share Market Value per Share Finder's

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PCo issued shares of their common stock for interest in S. Question: 25,000 10 Shares issued Par Value per Share Market Value per Share Finder's Fee Registration Fees Percentage interest 40,000 55,000 0.75 A Record the purchase on P Co's Books 8 Prepare the elimination entry at the date of the combination C Prepare the equity method entries for the first year of combined operations. D Prepare elimination entries at the end of the first year of combined operations. E Post elimination entries to the worksheet and prepare a consolidated Trial Balance F Prepare Consolidated Financial Statements. S, BS, ST of R/E) Subs Equity Common Stock Pald in Excess Retained Earnings 125,000 245.000 540,000 Account Inventory Property Plant and Equipment Net Book Value 126,000 350,000 Fair Market Value Ute 143,000 410,000 1 8 Subs Income Subs dividend Year 1 240,000 80,000 OR Eliminations Consolidated DR 787,500.00 DR CR Account Dr. Investment in S.Co Cr. Common Stock Cr. APIC Dr. Investment Expense Dr. APIC Cr. Cash 18,750 758,750.00 Worksheet for Preparation of the Consolidated Trial Balance - Year 1 Parent Company Subsidiary Account Sales 675,000 390,000 Cost of Goods Sold 162,000 94,000 SGRA Expense 20.000 18,000 Deprecation 32.000 38,000 income for Subsidiary 161,625 40,000 SS,000 95.000 Net Income 622.625 240,000 Dr. Common Stock Dr. Pald in Excess Dr. Retained Earnings Dr. Inwentary Dr. PPE Dr. Goodwill Cr. Investment Cr. NOI 125,000 245.000 540,000 126,000 350,000 Beginning Retained Earnings Net Income Dividends Ending Retained Earnings $10,000 622,625 180,000 952,625 $40,000 240,000 80,000 700,000 80,000 Cash Investment in Subsidiary Inventory Property Plant and Equipment Other Assets 43,000 1,151,625 115,000 290,000 152.000 465.000 403,000 60,000 Total Assets 1,659,625 1,100,000 Uabilities 292.000 30,000 Common Stock Pald in Excess Retained Earnings 180,000 235,000 952,625 125.000 245.000 700,000 Total Equity 1,367,625 1,070,000 Total abilities and Equity 1,659,625 1.100.000 PCo issued shares of their common stock for interest in S. Question: 25,000 10 Shares issued Par Value per Share Market Value per Share Finder's Fee Registration Fees Percentage interest 40,000 55,000 0.75 A Record the purchase on P Co's Books 8 Prepare the elimination entry at the date of the combination C Prepare the equity method entries for the first year of combined operations. D Prepare elimination entries at the end of the first year of combined operations. E Post elimination entries to the worksheet and prepare a consolidated Trial Balance F Prepare Consolidated Financial Statements. S, BS, ST of R/E) Subs Equity Common Stock Pald in Excess Retained Earnings 125,000 245.000 540,000 Account Inventory Property Plant and Equipment Net Book Value 126,000 350,000 Fair Market Value Ute 143,000 410,000 1 8 Subs Income Subs dividend Year 1 240,000 80,000 OR Eliminations Consolidated DR 787,500.00 DR CR Account Dr. Investment in S.Co Cr. Common Stock Cr. APIC Dr. Investment Expense Dr. APIC Cr. Cash 18,750 758,750.00 Worksheet for Preparation of the Consolidated Trial Balance - Year 1 Parent Company Subsidiary Account Sales 675,000 390,000 Cost of Goods Sold 162,000 94,000 SGRA Expense 20.000 18,000 Deprecation 32.000 38,000 income for Subsidiary 161,625 40,000 SS,000 95.000 Net Income 622.625 240,000 Dr. Common Stock Dr. Pald in Excess Dr. Retained Earnings Dr. Inwentary Dr. PPE Dr. Goodwill Cr. Investment Cr. NOI 125,000 245.000 540,000 126,000 350,000 Beginning Retained Earnings Net Income Dividends Ending Retained Earnings $10,000 622,625 180,000 952,625 $40,000 240,000 80,000 700,000 80,000 Cash Investment in Subsidiary Inventory Property Plant and Equipment Other Assets 43,000 1,151,625 115,000 290,000 152.000 465.000 403,000 60,000 Total Assets 1,659,625 1,100,000 Uabilities 292.000 30,000 Common Stock Pald in Excess Retained Earnings 180,000 235,000 952,625 125.000 245.000 700,000 Total Equity 1,367,625 1,070,000 Total abilities and Equity 1,659,625 1.100.000